Once you register to start bidding online, the possibilities are endless. It’s easy to get lost in the thrill of online bidding. Online auctions make it possible to obtain high quality items at discounted prices. Bidders can view, bid, and pay for items without ever stepping foot in an auction hall.
If you’re interested in bidding in online auctions, it might benefit you to learn about the ins and outs of bidding online. This helps ensure the greatest chance of success.
How to Place A Bid Online
Each auction has numerous items and categories to choose from. Once you’ve found something you’d like to buy, simply enter your highest bid in the box under the item description and click “submit bid”. You can also click the “quick bid” option to place the minimum bid on the item. While this option provides a fast and convenient way to bid, it doesn’t provide a safeguard against other bidders. When you enter a maximum bid, the system automatically bids on your behalf until you’ve reached your highest bid.
Before entering a maximum bid, make sure you’re comfortable buying the item for this amount. Once you place your bid, you cannot retract it.
When you register to bid, the auction house will send you notifications at the start and end of each auction. After bidding, you’ll receive notification if you’ve been outbid, lost, or won the auction.
When bids get placed within the last few minutes of the auction, the auction end time automatically extends. Known as popcorn bidding, this helps ensure everyone gets a chance to bid.
Winning the Auction
After the auction, the winning bidder of each item receives notification via email. After paying for their items, winners can pick-up them up at the location listed on each auction. This process may differ slightly from one online auction to the next. Online auctions provide an exciting opportunity for bidders to purchase quality merchandise at deeply discounted prices.
If you’re interested in bidding in our Texas auctions, Lots of Auctions offers a wide range of merchandise. Click here to view our featured auctions.